ALT Altimmune, Inc.

Overview and Growth

In fiscal 2025, Altimmune, Inc. recorded $41.00K of revenue, net loss of $88.09M, and an operating cash outflow of $67.53M. The $41.00K revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. The top line expanded 105.0% from $20.00K in fiscal 2024, increasing the company’s operating scale. The company reported diluted EPS of -$1.00, adding a shareholder-level measure to the absolute income figures considered below. The diluted weighted-average share count was 88.10M, linking total earnings with the per-share result received by shareholders. The diluted share count was 24.1% higher than fiscal 2024, when diluted shares averaged 71.00M, adding context to the EPS comparison. At period end, total assets were $279.93M, framing the scale of the company’s operating and financing commitments. The revenue-to-assets relationship was 0.0x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The reported operating result was an operating loss of $94.49M, reflecting costs that exceeded gross profit. The bottom-line result was a net loss of $88.09M after operating, financing, tax, and other recognized items. EBITDA was negative $94.38M, showing a deficit before interest, taxes, depreciation, and amortization. Before income taxes, the company recorded a loss of $88.77M, bridging the operating result to the final net loss. The company recognized an income-tax benefit of $681.00K, increasing after-tax earnings relative to the pretax result. Relative to period-end equity, the net loss represented 39.2%. The net loss equaled 31.5% of period-end assets, showing the deficit relative to the asset base. Compared with a $95.06M net loss in fiscal 2024, the current loss improved to $88.09M.

Liquidity and Capital Structure

The company held $279.93M of assets against $55.04M of liabilities and $224.89M of equity, revealing how the asset base was financed. At period end, current assets of $278.19M compared with current liabilities of $15.00M, defining the company’s short-term resource position. The current ratio was 18.55x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Reported cash and equivalents were $43.76M, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 291.8%, excluding receivables and other current assets. Total debt was $34.29M, establishing the amount of borrowing carried within the company’s capital structure. Against book equity, debt measured 0.15x, placing the company’s financial leverage in clear balance-sheet terms. The debt-to-assets relationship was 12.2%, comparing borrowing with the total asset balance. Book equity represented 80.3% of total assets, quantifying the balance-sheet share supported by shareholder capital. Relative to total assets, liabilities measured 19.7%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 15.6%, comparing reported cash and equivalents with the full positive asset balance. Compared with $139.31M in fiscal 2024, the current asset base moved 100.9% and finished higher. Book equity was 82.1% higher than fiscal 2024 equity of $123.51M, showing how shareholder capital changed year over year. The reported cash balance changed 18.5% from $36.93M in fiscal 2024, ending higher year over year.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $67.53M, rather than cash generation from operations. The company spent $11.00K on capital expenditures while operations also absorbed cash, so both ongoing activity and investment drew on liquidity during the period. Negative free cash flow was $67.55M, leaving a cash deficit after capital spending and reducing financial flexibility. The free-cash-flow deficit equaled 24.1% of total assets, placing the cash shortfall against the company’s resource base. The operating cash outflow narrowed to $67.53M from $79.85M in fiscal 2024.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.